HomeMy WebLinkAbout2085 to bath pacinaipal a~ interest lras th~ gross rsce~.s tea~oes acc~cviing
tbersa~tsr to tbe 8tats 8oara viWsr tbs pronrisiona at tbs Hi~sr ~v~atian
I1~enOmeat based v~on t~e said avera~e aaaoa~sl ~t o~' tlrs rs~reaou~es ~e-
riv~ed ~s~aa fi:as gross s~acsiptia tieuoes ~uriag t~e iaea3stel~ P~~~6 ~ -
fiscsl years.
~e 8t,ste Boara Lsa eati~atad ~t~hat t~e sua o!
~3,100~000 vill be de~rivad lycca the gross r~ceip~Es t~a~oes during the
~ - csle~sr ibsr 1966 aa~d has sstia~ated t.~st tbs au~ of ~14~200~000 vill be
:~a,
~=-.3 t:~? i~:a ~ea rv~.-a%~~s u~i i~ `~us --caiaaa~r ~ I~`v?• 3n
ccnio:sity xith t~e 83gher ~ucatioo Amen~ent e~nd tbe Origiaal Feeolu-
tio~t tbe ~'j0~000,000 ag~re8ate Princi,Pal a~o~~nt c? such 8e1'ies H Bo~ds ~
to be issued in c~lea~sr y~esr 1966 is aat 3a s~ocess of ibur tiaaa such
antic~psted ravaaues to be deri~ned !'ra~ t~e groas rece~pts tn~oea tor t.be
csleadar 7'ear 1966 +u~d t~e ~25s~,~ ~BBr~?ts pi'inci,psl t~aunt of such
= Seri,es B Bonda to be iasued ia asendar y~sar 196'r is nat in euess oi lair
times such auticipated revem~es to be asrivsd h~os tbe gross rece~pts tb~oea
for tDe caletu]sr yesr 19~(.
: In coufor~aity vith t~he Higlrer ~icaticn A~en~seat
I and t~e Original Iieeolutiao, t~e smer~e a~l maunt o! the reveaues
_ d~eriv~ed iY~aa the gross receS,pts ts~oea ~uring the i~ediate],T precedin6
tw tiscel yeara is at lesst equal to cne and os~e-t?iird tiees the aggre-
~ste e~otuit of prin~cipal and interest t~ich Yi]l becaos aue 3n aa~r
stuceeding tircal year an tLe Bonds, aov outstandiog, and o~t tbe Series
B Bo~ds to be issued purausnt to t~e ReaoluLian.
F~1~18: Al1 p~ents required under 8ection h.03 ~e)
o! the Original Reeolutian bsv~e been md~e in lU11 to tbs date bereof.
BI~: All ot su~ch 8eries B Bo~Wa vill be pe~rable ao~l,e]y
as to both principa]. and interest fi~+oo the grosa receipts ta~osa rhich
are required to be d~poaited 3a tbe Institutio~s ot Higber Leeu~ning aad
J~nio~ Colle~eo Capital Ait1~ end Debt Serrice Ttvat l1a~d e~inistered
- b~ the State Bosrd, umdsr tbe p~ovisiclos ot t~s Hi~r ~catZon A~end-
aettt, ss pari psasu a~ditiotsal obligations la t~e aaoner pro~ri~ed iu
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